Civic Intelligence

Joint Ownership Entity New York City Corp

990 • Fiscal year 2019 • EIN 47-5044823

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 10, 2020

588 Broadway No 1208New York, NY 10012

(646) 768-4100

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

83rd percentile

0.75x

Higher debt load relative to assets than 83% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

87th percentile

2.59x

Higher debt load relative to revenue than 87% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Net Margin

92nd percentile

49%

Higher net margin than 92% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

10th percentile

$132,717

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2019

Asset Growth

93rd percentile

34%

Faster asset growth than 93% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

92nd percentile

59%

Faster revenue growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Up

$79,367,192

Up $19,951,061 (+34%) from 2018

Net Assets

Up

$20,022,985

Up $10,068,119 (+101%) from 2018

Liabilities

Up

$59,344,207

Up $9,882,942 (+20%) from 2018

Revenue

Up

$22,913,364

Up $8,484,719 (+59%) from 2018

Expenses

Up

$11,692,148

Up $3,955,356 (+51%) from 2018

Net Income

Up

$11,221,216

Up $4,529,363 (+68%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2016: $1,211,290Liabilities 2016: $501,826Net Assets 2016: $709,4642016Assets 2017: $28,289,436Liabilities 2017: $25,081,357Net Assets 2017: $3,208,0792017Assets 2018: $59,416,131Liabilities 2018: $49,461,265Net Assets 2018: $9,954,8662018Assets 2019: $79,367,192Liabilities 2019: $59,344,207Net Assets 2019: $20,022,9852019Assets 2020: $155,995,039Liabilities 2020: $147,077,385Net Assets 2020: $8,917,6542020Assets 2021: $168,757,789Liabilities 2021: $165,609,300Net Assets 2021: $3,148,4892021Assets 2022: $5,675,989Liabilities 2022: $2,571,059Net Assets 2022: $3,104,9302022Assets 2023: $10,293,193Liabilities 2023: $1,429,640Net Assets 2023: $8,863,5532023Assets 2024: $9,906,748Liabilities 2024: $1,429,640Net Assets 2024: $8,477,1082024

Highlighted filing

2019

Assets$79,367,192
Liabilities$59,344,207
Net Assets$20,022,985

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2016: $1,691,409Expenses 2016: $981,945Net Income 2016: $709,4642016Revenue 2017: $3,761,944Expenses 2017: $1,266,920Net Income 2017: $2,495,0242017Revenue 2018: $14,428,645Expenses 2018: $7,736,792Net Income 2018: $6,691,8532018Revenue 2019: $22,913,364Expenses 2019: $11,692,148Net Income 2019: $11,221,2162019Revenue 2020: $17,434,025Expenses 2020: $17,449,567Net Income 2020: -$15,5422020Revenue 2021: $14,394,348Expenses 2021: $18,637,402Net Income 2021: -$4,243,0542021Revenue 2022: $246,635Expenses 2022: $652,805Net Income 2022: -$406,1702022Revenue 2023: $720,303Expenses 2023: $510,984Net Income 2023: $209,3192023Revenue 2024: $12,161Expenses 2024: $391,410Net Income 2024: -$379,2492024

Highlighted filing

2019

Revenue$22,913,364
Expenses$11,692,148
Net Income$11,221,216
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$22,913,364
Mission and Program Overview

Mission

The primary purposes of joe nyc are to strengthen its members' ability to develop, maintain, and manage affordable housing and serve as a vehicle to maintain long-term affordability of existing and future affordable housing units in support of their missions as community-based organizations that align their housing development and management work with the needs and resources of the communities served and focus on resident services and support.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$40,083,387$47,493,475▲ $7,410,088
Cash and Non-Interest-Bearing Accounts$12,350,748$25,132,814▲ $12,782,066
Other Notes and Loans Receivable, Net$1,843,011$793,011▼ $1,050,000
Accounts Receivable$585,176$753,631▲ $168,455
Pledges and Grants Receivable$700,000--
Prepaid Expenses and Deferred Charges$459,535$506,900▲ $47,365
Total Assets$59,416,131$79,367,192▲ $19,951,061
Other Assets Total$3,394,274$4,687,361▲ $1,293,087
Liabilities
Mortgage Notes Payable Secured by Investment Property$46,971,326$56,132,339▲ $9,161,013
Other Liabilities$956,876$1,605,817▲ $648,941
Accounts Payable and Accrued Expenses$1,507,508$1,580,496▲ $72,988
Deferred Revenue$25,555$25,555→ $0
Total Liabilities$49,461,265$59,344,207▲ $9,882,942
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$9,302,333$19,370,452▲ $10,068,119
Net Assets With Donor Restrictions$652,533$652,533→ $0
Total Net Assets Fund Balance$9,954,866$20,022,985▲ $10,068,119
Total Liabilities and Net Assets / Fund Balance$59,416,131$79,367,192▲ $19,951,061

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$39,109,214$2,547,469$41,656,683
Land$7,129,451-$7,129,451
Other Land Buildings$1,254,810-$1,254,810
Other Assets Org$7,855--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Peter MaddenExecutive DirectorFT$128,604$4,113$132,717

Board Members and Trustees

NameTitle
Michael RochfordChair
Isemene SpeliotisVice Chair
Bernell GrierDirector
Emilio DorcelyDirector
Gordon BellDirector
Janice BerthoudDirector
Ken WrayDirector
Michelle DelauzDirector
Scott ShortDirector
David GilcristSecretary
Hope BurgessTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Goldstein Hall PllcLegal Services80 BROAD STREET 303, New York, NY 10004$227,500
Revenue and Support

Revenue Composition

Contributions and Grants
$340,000
Program Service Revenue
$22,985,391
Investment Income
$208,848
Other Revenue
$-620,875
All Other Contributions
$340,000
Change in Net Assets
$11,221,216
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,559,431
Salaries, Compensation, and Employee Benefits$132,717
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$2,268,147--$2,268,147
Fees for Services Management$1,778,113$101,455-$1,879,568
Depreciation Depletion$1,542,809--$1,542,809
Interest$1,351,728--$1,351,728
Fees for Services Legal$259,774--$259,774
Other Expenses$33,139$150,869-$184,008
Fees for Services Accounting-$180,332-$180,332
Current Officers, Directors, Trustees, and Key Employees$132,717--$132,717
Fees for Services Other$115,072--$115,072
Conferences and Meetings-$226-$226
Total Functional Expenses$11,259,266$432,882$0$11,692,148
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Parties$1,122,225
Tenant Security Deposits$350,022
Prepaid Rent$133,570
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

The 990 is prepared by an independent accountant. It is then reviewed by the organization's governing body. After the review, form 990 is filed with the irs.

Form 990, Part VI, Section B, Line 12C

Members sign annual conflict of interest policy. Conflict waivers would be signed if a transaction created the appearance of a conflict.

Form 990, Part VI, Section C, Line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
The Joint Ownership Entity
EIN
47-5044823
Phone
6467684100
Address
588 BROADWAY NO 1208, NEW YORK, NY 10012

Signing Officer

Name
Peter Madden
Title
Executive Director
Phone
6467684100
Signed
2020-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter Madden
Formed
2015
Legal Domicile
Ny
Voting Board Members
11
Independent Board Members
11
Employees
2
Volunteers
0

Preparer

Firm
Cohnreznick Llp
Address
1301 AVENUE OF THE AMERICAS, NEW YORK, NY 10019
Preparer
Lori Rothe Yokobosky CPA
Phone
2122970400
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Transfer of net assets -1,153,097.

FORM 990, PART IV, LINE 12B:

As of the date of filing the audit has not yet been completed. Form 990 has been prepared based on the best information available. Should information substantially change upon completion of the audit, the form will be amended to reflect those changes.

Raw XML AppendixShowing 400 of 921 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OccupancyGrp/ProgramServicesAmt02268147
IRS990/OccupancyGrp/TotalAmt02268147
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IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt04687361
IRS990/OtherChangesInNetAssetsAmt0-1153097
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0150869
IRS990/OtherExpensesGrp/ProgramServicesAmt02086832
IRS990/OtherExpensesGrp/ProgramServicesAmt11455930
IRS990/OtherExpensesGrp/ProgramServicesAmt2235005
IRS990/OtherExpensesGrp/ProgramServicesAmt333139
IRS990/OtherExpensesGrp/TotalAmt02086832
IRS990/OtherExpensesGrp/TotalAmt11455930
IRS990/OtherExpensesGrp/TotalAmt2235005
IRS990/OtherExpensesGrp/TotalAmt3184008
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IRS990/OtherRevenueMiscGrp/BusinessCd0900099
IRS990/OtherRevenueMiscGrp/BusinessCd1900099
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IRS990/OtherRevenueMiscGrp/Desc1LOSS ON PARTNERSHIP INVESMTENTS
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt03170
IRS990/OtherRevenueMiscGrp/RelatedOrExemptFuncIncomeAmt1-624045
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt1-624045
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0506900
IRS990/PrincipalOfficerNm0PETER MADDEN
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IRS990/ProgramServiceRevenueGrp/BusinessCd2531390
IRS990/ProgramServiceRevenueGrp/Desc0INCLUSIONARY HOUSING PROGRAM
IRS990/ProgramServiceRevenueGrp/Desc1RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/Desc2MANAGEMENT FEES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014009285
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt18178726
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2797380
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IRS990/PYInvestmentIncomeAmt056414
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IRS990/RegularMonitoringEnfrcInd01
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IRS990/ReportLandBuildingEquipmentInd01
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IRS990ScheduleA/SupportedOrganizationsCnt011
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IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd80
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IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt60
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt60
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IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt80
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt90
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt100
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0ECUMENICAL COMMUNITY DEVELOPMENT ORGANIZATION INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt1BANANA KELLY COMMUNITY IMPROVEMENT ASSOCIATION
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt2ST NICKS ALLIANCE CORP
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt3RIDGEWOOD BUSHWICK SENIOR CITIZENS COUNCIL
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt4MUTUAL HOUSING ASSOCIATION OF NEW YORK INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt5COMMUNITY ASSISTED TENANT CONTROLLED HOUSING INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt6IMPACCT BROOKLYN
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt7PROJECT FIND INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt8FIFTH AVENUE COMMITTEE INC
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt9BRIDGE STREET DEVELOPMENT CORPORATION
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt10BEDFORD STUYVESANT RESTORATION CORPORATION

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